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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Revenues $ 3,194,679 $ 2,136,672
Cost of sales and fuel (exclusive of items shown separately below) 2,121,510 1,276,928
Operations and maintenance 207,158 175,096
Depreciation and amortization 157,120 132,353
Impairment charges 0 604,024
General taxes 44,439 31,944
Gain on sale of assets (269) (204)
Operating income (loss) 664,721 (83,469)
Equity in net earnings from investments (Note I) 33,320 44,627
Impairment of equity investments 0 (37,730)
Allowance for equity funds used during construction 812 15,409
Other income 215 16,475
Other expense (5,237) (11,948)
Interest expense (net of capitalized interest of $5,095 and $30,875, respectively) (185,523) (140,616)
Income (loss) before income taxes 508,308 (197,252)
Income tax (expense) benefit (122,132) 55,395
Net income (loss) 386,176 (141,857)
Less: Preferred stock dividends 275 275
Net income (loss) available to common shareholders $ 385,901 $ (142,132)
Basic EPS (Note G) $ 0.87 $ (0.34)
Diluted EPS (Note G) $ 0.86 $ (0.34)
Average shares (thousands)    
Basic 445,894 414,282
Diluted 446,885 414,282
Commodity Sales    
Revenues    
Revenues $ 2,836,109 $ 1,808,620
Services    
Revenues    
Revenues $ 358,570 $ 328,052